AutoCanada (TSE:ACQ) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

AutoCanada Inc. (TSE:ACQ)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$27.23 and traded as high as C$28.20. AutoCanada shares last traded at C$26.24, with a volume of 32,782 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on the stock. National Bank Financial cut their price target on shares of AutoCanada from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Acumen Capital upped their target price on shares of AutoCanada from C$35.50 to C$39.25 and gave the company a “speculative buy” rating in a report on Tuesday, January 27th. Royal Bank Of Canada cut their target price on shares of AutoCanada from C$30.00 to C$29.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 6th. Canaccord Genuity Group boosted their price target on AutoCanada from C$36.00 to C$42.00 and gave the stock a “buy” rating in a research report on Monday, January 19th. Finally, Canadian Imperial Bank of Commerce upped their price objective on AutoCanada from C$30.00 to C$34.00 in a research note on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, AutoCanada has an average rating of “Moderate Buy” and an average price target of C$34.04.

AutoCanada Trading Down 6.3%

The stock has a market capitalization of C$606.12 million, a P/E ratio of -65.60, a P/E/G ratio of 0.30 and a beta of 2.08. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 451.54. The business has a 50-day moving average price of C$25.99 and a two-hundred day moving average price of C$27.23.

AutoCanada (TSE:ACQ) last posted its quarterly earnings results on Thursday, November 13th. The company reported C$0.66 EPS for the quarter. AutoCanada had a negative return on equity of 9.79% and a negative net margin of 0.82%.The business had revenue of C$1.20 billion during the quarter. On average, analysts expect that AutoCanada Inc. will post 2.4311927 EPS for the current fiscal year.

AutoCanada Company Profile

AutoCanada Inc operates car dealerships in Canada. The company offers new and used vehicles, spare parts, maintenance services, and customer financing. AutoCanada retails brands such as Chrysler, Dodge, Jeep, Ram, Cadillac, Chevrolet, Buick, GMC, Audi, Volkswagen, BMW, Mini, Infiniti, Nissan, Hyundai, Kia, Fiat, Mitsubishi, and Subaru. The majority of revenue is generated in the new-vehicles sales segment.